New York Condo Insurance

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For less than the price of an expensive restaurant meal for a special occasion, you can secure a New York condo insurance policy that you certainly won’t regret getting the next morning. Plus, the policy gets you protection for all your coveted belongings and the walls-in of your unit.

From New York City to Brooklyn and all the way upstate to Buffalo, condo owners in the Empire State worked hard to acquire a piece of property they can call their own. We know how important that investment is to you, which is why we’ve teamed up with some of the state’s top insurers so we can pair you with affordable, reliable condo insurance in New York that meets your coverage needs and your budget.

What Insurance Do I Need for a Condo in New York?

Personal Property

☘ Since it’s a walls-in policy, meaning only what’s inside the four walls of a condo are typically covered, an HO6 begins with coverage for personal belongings. This helps to protect items you keep inside your home, such as clothing, computers, furniture and TVs. Since condo owners don’t own the property outside their unit, belongings that are permanently kept outdoors may not be covered.

Loss of Use

☘ If a peril occurs that damages or destroys your condo, causing you to temporarily move out, loss of use can help to cover monthly rent at an equivalent home, storage fees, pet boarding and many other expenses you wouldn’t have incurred had you been living in your unit. Since your neighbors may not be as careful as you, loss of use is pivotal in protecting your wellbeing. 

Personal Liability

☘ If an accident occurs to a guest in your condo unit and you’re deemed liable, personal liability coverage can step in and help pay for medical bills and legal expenses for major incidents like dog bites, broken bones or even accidental death. For condo owners, personal liability is typically the highest amount of coverage you’ll maintain.

Medical Payments

☘ MedPay, as it’s often called, is similar to personal liability in that it covers injuries that occur on your property. But with medical payments coverage, only medical bills for minor injuries will be paid — no matter whether you’re at fault or not.

Loss Assessment

☘ If the condo’s master HOA policy maximums don’t pay for significant damages or incidents, each owner will have to pay a special assessment. This add-on protects policyholders from paying significant special assessment fees handed down by the condo complex.

Building Property Protection

☘ Condo insurance is a walls-in policy, so you don’t have to protect the building’s structure. But building property protection protects the walls and interior of your condo unit if they’re damaged or destroyed by a covered peril, which is important since you may have many neighbors.

What’s the Average Cost of Condo Insurance in New York?

For just $50 a month, you can secure a New York condo insurance policy that provides an average of $200,000 worth of property coverage, $30,000 worth of belongings coverage and much more. New York condo insurance equates to about $600 per year, which is near the national average for condo owners in the U.S.

Condo insurance premiums are determined by a multitude of factors, so everyone won’t pay the same amount. The cost of coverage depends heavily on the value of your condo and the coverage maximums you have on your policy.

How to Get the Best Condo Insurance in New York

Getting the best New York condo insurance policy is all about knowing where to look — and who to know. At Clovered, we’re both the who and the where. Our online quoting tool allows us to compare policies from the state’s top insurers and provide you the best policy at the best price.

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn't with a custom condo insurance policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.